HVS Design and Jonathan Nehmer + Associates (JN+A) are proud to announce the completion of the 2016 Hotel Cost Estimating Guide. The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations in the USA.

HVS, the world’s leading hospitality consulting and valuation firm, in collaboration with STR, is pleased to deliver the 2016 Hotel Valuation Index (HVI). The HVI offers critical information on 70 U.S. hotel markets and the nation, including hotel value changes and projections through 2019 and intelligence on market dynamics for primary, secondary, and tertiary hotel markets. Each year, more than 80 HVS hotel experts conduct thousands of market studies, feasibility studies, and appraisal assignments for all types of hotels across the U.S. The intelligence gathered from these engagements, combined with analysis of data on hotel performance from HVS and STR, supports the conclusions and projections presented in the annual HVI. The HVI for the U.S. is a measure of the strength of the lodging industry as a whole and, specifically, the hospitality investment market. It provides excellent “big picture” data, indicating which market areas are experiencing positive trends and, thus, which markets may present good investment opportunities.

HVS Asia-Pacific Managing Partner Daniel Voellm will present Korea Hotel Investment Outlook at the Seoul Hotel Investment Conference (SHIC), scheduled to take place this year on 22-23 June. Dan’s presentation will cover major Korean tourist destination cities such as Seoul, Busan, Incheon, Jeju Island, Pyungchang and Inchoen. HVS is also co-hosting this first hotel-focussed conference in Korea, which will serve as a platform for those seeking business opportunities in the Asia Pacific region. SHIC will provide a deeper understanding of the region’s hotel market, together with the latest Investment and development trends.

Conrad Hotels & Resorts makes its debut in the Philippines with the opening of Conrad Manila. Owned by SM Hotels and Convention Corporation, a subsidiary of SM Investment Corporation, Conrad Manila is located in close proximity to SMX Convention Centre, the country’s largest convention space, and sits atop S Maison upscale shopping center. The 347-room hotel is the first Conrad in the Philippines and their 15th property in the Asia Pacific. The hotel features a total of six restaurants and lounges, a coral-shaped infinity swimming pool, a 24-hour fitness center and a spa with six treatment rooms. With a combined meeting space of over 2,400 square meters, the hotel is also expected to attract the MICE segment. According to Martin Rinck, Hilton’s President for Asia Pacific, “Its opening underscores the growth of our portfolio across Asia Pacific and our continued commitment to the dynamic market of the Philippines. This landmark property perfectly complements the vibrancy of this amazing capital city and will set the benchmark for luxury accommodation in Manila.”

Starwood Hotels & Resorts has sold two hotels in Italy’s Tuscan capital, Florence, to Nozul Hotels & Resorts, the hospitality arm of Qatar-based conglomerate Jaidah Holdings, for €190 Million. The 99-room St. Regis Florence, which dates from 1432, and the 171-room Westin Excelsior Florence will continue to be operated by Starwood under new long-term management agreements. HVS Hodges Ward Elliott advised Jaidah Holdings throughout the transaction, as they did when Nozul acquired the Gritti Palace in Venice in 2015. “We are very pleased to expand our presence in Italy with Starwood by acquiring these two beautiful properties”, said Nawaf Jaidah, Jaidah’s executive vice chairman. The addition of the St. Regis and Westin in Florence to the Gritti Palace in Venice emphasises our commitment to establish a portfolio of trophy assets in major European destinations,” he added.